Quarterly report pursuant to Section 13 or 15(d)

Revenues from Contracts with Customers (Tables)

v3.19.3
Revenues from Contracts with Customers (Tables)
 9 Months Ended
Sep. 30, 2019
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue

The following table represents a disaggregation of revenue earned from contracts with customers during the three and nine months ended September 30, 2019 and 2018 (in millions):
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2019
 
2018
 
2019
 
2018
LNG revenues
 
$
1,139

 
$
1,249

 
$
3,676

 
$
3,419

LNG revenues—affiliate
 
257

 
205

 
1,017

 
886

Regasification revenues
 
66

 
66

 
199

 
196

Other revenues
 
13

 
9

 
36

 
28

Total revenues from customers
 
1,475


1,529

 
4,928

 
4,529

Net derivative gains (1)
 
1

 
—

 
2

 
—

Total revenues
 
$
1,476


$
1,529

 
$
4,930

 
$
4,529

 
(1)
See Note 7—Derivative Instruments for additional information about our derivatives.

Contract Balances Reconciliation
The following table reflects the changes in our contract liabilities, which we classify as deferred revenue on our Consolidated Balance Sheets (in millions):
 
 
Nine Months Ended September 30, 2019
Deferred revenues, beginning of period
 
$
116

Cash received but not yet recognized
 
169

Revenue recognized from prior period deferral
 
(116
)
Deferred revenues, end of period
 
$
169


Transaction Price Allocated to Future Performance Obligations The following table discloses the aggregate amount of the transaction price that is allocated to performance obligations that have not yet been satisfied as of September 30, 2019 and December 31, 2018:
 
 
September 30, 2019
 
December 31, 2018
 
 
Unsatisfied
Transaction Price
(in billions)
 
Weighted Average Recognition Timing (years) (1)
 
Unsatisfied
Transaction Price
(in billions)
 
Weighted Average Recognition Timing (years) (1)
LNG revenues (2)
 
$
55.7

 
10
 
$
53.6

 
10
Regasification revenues
 
2.4

 
5
 
2.6

 
6
Total revenues
 
$
58.1

 
 
 
$
56.2

 
 
 
    
(1)
The weighted average recognition timing represents an estimate of the number of years during which we shall have recognized half of the unsatisfied transaction price.
(2)
Includes future consideration from agreement contractually assigned to SPL from Cheniere Marketing.